Craig Hallum Forecasts Strong Price Appreciation for Zillow Group (NASDAQ:ZG) Stock

Zillow Group (NASDAQ:ZG) had its price target lifted by Craig Hallum from $55.00 to $70.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective would suggest a potential downside of 1.77% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Barclays raised their target price on Zillow Group from $35.00 to $36.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. JMP Securities boosted their target price on Zillow Group from $62.00 to $82.00 and gave the stock a “market outperform” rating in a report on Thursday. The Goldman Sachs Group raised their price target on shares of Zillow Group from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday. Evercore ISI upped their price objective on Zillow Group from $55.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $47.00 price objective on shares of Zillow Group in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.06.

Zillow Group Stock Up 1.7 %

Shares of NASDAQ ZG opened at $71.26 on Thursday. The firm has a fifty day simple moving average of $59.60 and a two-hundred day simple moving average of $50.51. The firm has a market capitalization of $16.49 billion, a PE ratio of -125.02 and a beta of 2.02. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.11. Zillow Group has a 12 month low of $34.33 and a 12 month high of $72.03.

Zillow Group (NASDAQ:ZG) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.31 by $0.08. Zillow Group had a negative net margin of 6.17% and a negative return on equity of 2.34%. The business had revenue of $572.00 million during the quarter, compared to analyst estimates of $538.36 million. During the same period last year, the business posted ($0.05) earnings per share. Zillow Group’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities analysts expect that Zillow Group will post -0.33 earnings per share for the current year.

Insider Transactions at Zillow Group

In other Zillow Group news, CEO Jeremy Wacksman sold 4,480 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $52.83, for a total transaction of $236,678.40. Following the transaction, the chief executive officer now owns 174,439 shares in the company, valued at $9,215,612.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Amy Bohutinsky sold 20,625 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $67.23, for a total transaction of $1,386,618.75. Following the completion of the transaction, the director now owns 5,652 shares in the company, valued at $379,983.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeremy Wacksman sold 4,480 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $52.83, for a total transaction of $236,678.40. Following the sale, the chief executive officer now directly owns 174,439 shares of the company’s stock, valued at $9,215,612.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,596 shares of company stock worth $3,938,581. 17.14% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zillow Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Zillow Group during the third quarter valued at approximately $29,000. EntryPoint Capital LLC acquired a new stake in shares of Zillow Group in the 1st quarter worth $53,000. Signaturefd LLC grew its stake in Zillow Group by 29.7% during the 2nd quarter. Signaturefd LLC now owns 1,572 shares of the technology company’s stock worth $71,000 after buying an additional 360 shares during the last quarter. GAMMA Investing LLC increased its position in Zillow Group by 86.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after buying an additional 561 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in Zillow Group in the first quarter valued at about $84,000. Institutional investors own 20.32% of the company’s stock.

Zillow Group Company Profile

Zillow Group, Inc operates real estate brands in mobile applications and Websites in the United States. The company offers premier agent and rentals marketplaces, new construction marketplaces, advertising, display advertising, and business technology solutions, as well as dotloop and floor plans. It also provides mortgage originations and the sale of mortgages, and advertising to mortgage lenders and other mortgage professionals; and title and escrow services.